Japanese Investment Firm SoftBank Plunges Into AI With $100 Million Symbotic Joint Venture
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Investment firm SoftBank is reportedly betting big on artificial intelligence (AI) through a joint venture with Symbotic. AI is making headlines with the launch of chatbots such as OpenAI’s ChatGPT and Google’s Bard. And as venture capitalist interest grows in AI, the Japanese investment company SoftBank want some of the action. SoftBank Plans an AI-Powered Warehouse According to Bloomberg, SoftBank is partnering with a robotic warehouse company, Symbotic, to go all in on AI. SoftBank and Symbotic plan to establish a joint venture, GreenBox Systems LLC, worth $100 million, with the former owning a 65% stake and the latter owning
The SoftBank loss surprised analysts who were expecting the company to report a gain, even though the company’s investment arm is up. SoftBank Group Corp reported a loss for the quarter ended June, surprising much of the market, which expected better. However, the company’s Vision Fund investment arm posted a gain…
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